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Insurance Solutions

Formerly Moody’s RMS

With general availability set for April, we are excited to announce that a major new version of Moody’s RMS RiskLink®RiskBrowser®, and related products (Version 24) will be released simultaneously for both on-premises for download and in the cloud as added capability to all relevant Moody’s RMS Intelligent Risk Platform™ (IRP) applications.

Some highlights of the upcoming Version 24 release include:

  • A significant update to the Moody’s RMS Caribbean Earthquake Model
  • Updates to Builders Risk, Marine Cargo, and Industrial Facilities Models
  • New Industry Exposure Databases and Industry Loss Curves
  • Geocoding Updates
  • Software Updates

For customers using the IRP and its hosted applications, this new release now means that the IRP supports six model versions simultaneously: from Version 18, 18.1, 21, 22, 23, through to the latest Version 24.

Let’s dive into the update:

Caribbean Earthquake Model

In Version 24, Moody's RMS is updating and enhancing the Caribbean Earthquake Model, to supersede the existing model version available in Version 23 RiskLink and RiskBrowser, Risk Modeler, and UnderwriteIQ.

This Version 24 Caribbean Earthquake Model provides the most up-to-date view of earthquake risk across the Caribbean with geographic coverage expanded to now include Aruba, the Bahamas, Bermuda, Bonaire, Cuba, and Curacao.

Based on the latest Moody's RMS earthquake modeling approaches, the Caribbean Earthquake Model introduces several scientific and methodological enhancements to the stochastic event set, hazard, and vulnerability components.

These include:

  • A new event catalog featuring over 100,000 events, along with new event rate sets and geometries for the different earthquake sources.
  • New ground motion models that capture the increased number of global ground motion recordings.
  • Geotechnical model updates covering soil, liquefaction, and landslide.
  • Building inventory updates that reflect the current view of exposure across the region.
  • Updates to vulnerability based on the latest understanding of building performance
  • Marine Cargo Model, Industrial Facilities Model (with new supported facility types), and Builders Risk Model updates

Industry Exposure Databases and Industry Loss Curves

Moody's RMS is also releasing a new earthquake Industry Exposure Database (IED) and Industry Loss Curves (ILCs) for the Caribbean that cover all countries within the domain of the updated models.

Updates to Builders Risk and Marine Cargo Models

In addition to the Caribbean Earthquake Model updates for the builders' risk, marine cargo, and industrial facilities models, Version 24 also includes the following updates:

  • North American Earthquake Model Suite: Builders Risk has been added to the Canada and Mexico Earthquake Models, completing Builders Risk earthquake model coverage for North America.
  • Builders Risk Model Construction Phase Script: An updated script covers flood peril in addition to wind and earthquake. By applying the script to an Exposure Data Module (EDM) database, model users can reflect the proper phase of construction and percent deductibles given a specific date.
  • India Inland Flood Model: The Marine Cargo Model has expanded to include the India Inland Flood Model to improve the global coverage of the Marine Cargo Model and to enhance model coverage for India.

Geocoding Updates

The new Version 24 sees updates to the geocoding data for 165 non-modeled countries.

To improve Moody's RMS global geocoding coverage for current products and to support the future product roadmap, this update adds the following new data:

  • New points of interest (POIs) for 126 countries
  • New street coverage for 43 countries
  • New address information for 40 countries

In addition to the updates above, we have made several usability improvements to RiskLink such as the ability to add new models without having to reinstall software.

If you are a Moody’s RMS client and would like more information on the latest Version 24 release, please contact your Moody’s RMS Customer Success Manager.

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Derek Neal
Derek Neal
Associate Director - Product Management, Software and Applications

Derek is an Associate Director - Product Management within the Software/Applications team at Moody's RMS. Based in Newark, California, he is responsible for on-premise RiskLink and is part of the product management team responsible for the Risk Modeler application on Moody's RMS Intelligent Risk Platform. Before working on RiskLink and Risk Modeler, Derek focused on platform services including detailed loss model (DLM) and high-definition (HD) model execution.

Before Moody's RMS, Derek worked at Willis Re and Guy Carpenter as a Catastrophe Modeling Analyst utilizing many products within the Moody's RMS suite to provide risk and modeling insights to his clients. Derek has bachelor's degrees in Mathematics and Physics from St. John’s University in Collegeville, Minnesota. 

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